Bitcoin Explained - The Technical Side of Bitcoin

Bitcoin Explained - The Technical Side of Bitcoin

BTC Media

Bitcoin Magazine's Technical editor Aaron van Wirdum teams up with Bitcoin core contributor Sjors Provoost to explain Bitcoin one episode at a time.

Categories: Technology

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Bitcoin, Explained 50: Death to the Mempool, Long Live the Mempool   In this episode of Bitcoin, Explained, hosts Aaron van Wirdum and Sjors Provoost discuss a recent thread on the Bitcoin development mailing list, titled “Death to the Mempool, Long Live the Mempool”.   In the thread, Blockstream engineer Lisa “niftynei” Neigut proposes to get rid of the memory pool (mempool): the collection of unconfirmed transactions that Bitcoin nodes use to share transactions over the network, and that Bitcoin miners use to create new blocks from. She argues that the Bitcoin system could be drastically simplified if users instead just send their transactions directly to miners (or mining pools). In the episode, Aaron and Sjors explain how this would work, and why this is not as simple as it may sound. Based on the responses in the thread, they go over the reasons why getting rid of the mempool is in fact not a very good solution for a system like Bitcoin. Specifically, they discuss the implications on mining privacy and decentralization, while also exploring some other tradeoffs that would need to be made in order to make the Bitcoin system work without a mempool.   Finally, Sjors considers an idea that Aaron doesn’t understand.  

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Previous episodes

  • 50 - Death To The Mempool, Long Live The Mempool - Episode 50 
    Sat, 27 Nov 2021 - 0h
  • 49 - The Fake Peers Attack! - Episode 49 
    Fri, 12 Nov 2021 - 0h
  • 48 - Lightning Network Upgrades (Eltoo + SIGHASH_ANYPREVOUT) with Christian Decker - Episode 48 
    Fri, 29 Oct 2021 - 0h
  • 47 - Lightning Network Channel Payments with Rene Pickhardt - Episode 47 
    Fri, 15 Oct 2021 - 0h
  • 46 - A First Look at the Chivo App - Episode 46 
    Mon, 11 Oct 2021 - 0h
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